NEW YORK, Sept. 20 /PRNewswire-FirstCall/ -- Intellect Neurosciences,
Inc. (OTC Bulletin Board: ILNS), a biopharmaceutical company focused on the
development of disease-modifying therapeutic agents for the treatment and
prevention of Alzheimer's disease and related disorders, and CHDI, Inc., a
non-profit organization pursuing the discovery and development of drugs to
prevent or slow the progression of Huntington disease (HD), announced today
that they have entered into an agreement under which CHDI will assess
Intellect's OXIGON(TM) as a potential therapy for Huntington disease. CHDI
has access to a variety of relevant research tools, including in vitro and
in vivo assays and animal models. Intellect has completed Phase I clinical
trials for OXIGON(TM) in elderly healthy volunteers.

Dr. Daniel Chain, CEO and Chairman of Intellect, commented: "We are
pleased that CHDI is evaluating whether OXIGON's method of action might
extend to Huntington disease. OXIGON(TM) is planned to enter Phase II
clinical trials in Alzheimer's patients in 2008. The data generated in the
CHDI study could support proceeding with clinical trials in HD patients as
well."

"We are intrigued by the properties of this compound, which has
demonstrated neuroprotective effects in various animal models," said Robert
Pacifici, CHDI's Chief Scientific Officer. "We are pleased to work with the
Intellect team to evaluate the usefulness of OXIGON(TM) to treat HD."

About OXIGON(TM)

Intellect's lead drug candidate, OXIGON(TM), is a chemically
synthesized form of a naturally occurring molecule that has unique
neuroprotectant and antioxidant properties. OXIGON(TM) has been
demonstrated to protect the brain from many potent neurotoxins in animals
and also to block the formation of toxic aggregates that result from
abnormal folding of proteins such as beta amyloid that accumulates in the
brain of Alzheimer's patients and potentially other abnormal proteins such
as those found in Huntington's disease. Preclinical studies using
transgenic mouse models have provided evidence that OXIGON(TM) has the
potential to reduce brain amyloid burden and improve cognition in
Alzheimer's disease.

Intellect is the exclusive licensee of patents related to the use of
OXIGON(TM), which are owned jointly by New York University and the
University of South Alabama Research Foundation. Patents have been granted
in Europe, the United States and several other countries.

About Huntington Disease

Huntington disease is a familial disease, passed from parent to child
through a mutation in a gene. Each child of a HD parent has a 50-50 chance
of inheriting the HD gene which causes programmed degeneration of brain
cells and results in emotional disturbance, loss of intellectual faculties
and uncontrolled movements. Most people with HD develop the symptoms at
midlife but in some people onset occurs in infancy or old age. The average
survival time after onset is approximately fifteen to twenty years. It is
estimated that about one in every 10,000 persons has the HD gene. At this
time, there is no way to stop or reverse the course of Huntington disease.

About Intellect Neurosciences, Inc.

Intellect Neurosciences, Inc. is a biopharmaceutical company engaged in
the discovery and development of disease-modifying therapeutic agents for
the treatment and prevention of Alzheimer's disease and other disorders.
Intellect has recently completed Phase I clinical trials for OXIGON(TM), a
unique antioxidant and anti-amyloid compound that has potential to treat
Alzheimer's disease and other disorders. Also, the Company has a broad
proprietary immunotherapy platform for both passive and active immunization
against Alzheimer's disease.

CHDI, Inc. is a non-profit organization pursuing a biotech approach to
rapidly discover and develop drugs that prevent or slow Huntington disease.
Through collaborations with academic and industrial partners, CHDI, Inc.
participates in all aspects of drug discovery and development from
discovery research through clinical development. For more information about
CHDI, Inc. and its collaborative programs please see http://www.chdi-inc.org.

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